IDF Eurasia was awarded FinAward prize for artificial intelligence

On August 27, 2020, the annual award ceremony Finaward-2019 was held. ID Collect collection agency (part of IDF Eurasia group) were awarded a special diploma “Using artificial intelligence in debt collection”.

The AI-based collection system was introduced by ID Collect in 2019. Using machine learning technology, the system allows you to predict the maturity of borrower’s debt and determine how often and in what ways you should interact with them.

The system includes two modules. The first one predicts the probability that the debt will be paid on a specific date. The second module is responsible for selecting the most effective communication channel with the debtor — calls, SMS, e-mail, etc. After one channel is defined, the other channels are disabled. In addition, the system selects the optimal frequency of interaction with each borrower.

Both modules work together. Artificial intelligence analyzes several hundred variables, including if it is easy to contact the debtor, his payment discipline, behavioral characteristics, the amount of previous repayments, the reasons for delay specified in the questionnaire, and so on. As a result, the accuracy of the program reaches about 90%.

General Director of ID Collect Alexander Vasiliev:

“This diploma is an important symbol of our success and achievements in IT. As a modern company, we regularly implement various advanced solutions, many of which are our unique in-house developments. This allows us to automate many processes, reducing manual labor costs and directing the released resources to further scale and build the business.”